Putnam FL Investment Management Co. Invests $228,000 in Diageo plc (DEO)

Putnam FL Investment Management Co. bought a new position in shares of Diageo plc (NYSE:DEO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,609 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also made changes to their positions in the company. Hilltop Holdings Inc. grew its position in shares of Diageo by 3.0% during the 4th quarter. Hilltop Holdings Inc. now owns 4,147 shares of the company’s stock valued at $588,000 after acquiring an additional 119 shares during the period. Flagship Harbor Advisors LLC raised its position in Diageo by 22.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,518 shares of the company’s stock worth $357,000 after purchasing an additional 459 shares during the period. Covington Capital Management raised its position in Diageo by 2.0% in the 4th quarter. Covington Capital Management now owns 10,184 shares of the company’s stock worth $1,444,000 after purchasing an additional 200 shares during the period. Trexquant Investment LP purchased a new stake in Diageo in the 3rd quarter worth about $654,000. Finally, Bank of New York Mellon Corp raised its position in Diageo by 661.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 255,087 shares of the company’s stock worth $36,139,000 after purchasing an additional 221,590 shares during the period. Institutional investors own 10.61% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Diageo from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Investec cut shares of Diageo from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Liberum Capital raised shares of Diageo from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Barclays started coverage on shares of Diageo in a research report on Monday, April 1st. They set an “overweight” rating on the stock. Finally, Sanford C. Bernstein lowered shares of Diageo from a “market perform” rating to an “underperform” rating in a research report on Friday, January 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $164.75.

DEO stock traded up $0.95 on Friday, hitting $163.07. The company’s stock had a trading volume of 226,037 shares, compared to its average volume of 253,644. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 0.73. The company has a market cap of $99.38 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. Diageo plc has a 1 year low of $131.43 and a 1 year high of $165.53.

The firm also recently disclosed a semiannual dividend, which was paid on Tuesday, April 16th. Investors of record on Friday, March 1st were paid a $1.3688 dividend. The ex-dividend date was Thursday, February 28th. This represents a yield of 1.81%. Diageo’s payout ratio is 42.68%.

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Diageo Profile

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages worldwide. The company offers a collection of brands across spirits, beer, cider, and wine categories. Its brands include Johnnie Walker, Crown Royal, J&B, Buchanan's and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Bundaberg, McDowell's No.

Further Reading: Average Daily Trade Volume Explained

Institutional Ownership by Quarter for Diageo (NYSE:DEO)

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